Welcome to our dedicated page for Spirit Rlty Cap news (Ticker: SRC), a resource for investors and traders seeking the latest updates and insights on Spirit Rlty Cap stock.
This page provides a historical news archive for Spirit Realty Capital, Inc. (formerly NYSE: SRC), a net-lease real estate investment trust that invested in single-tenant, operationally essential commercial properties. The news flow around SRC is closely tied to its role as a net-lease REIT and to its subsequent merger with Realty Income Corporation.
In this archive, readers can review company announcements about dividends, including quarterly cash dividends on common stock and on the 6.00% Series A Cumulative Redeemable Preferred Stock, as well as later communications from Realty Income detailing the tax allocation of Spirit’s 2023 and 2024 common and preferred stock distributions. These items are useful for understanding historical income characteristics and tax treatment of SRC-related payouts.
The news feed also captures key milestones in Spirit’s corporate history, such as the definitive merger agreement with Realty Income announced in October 2023, the shareholder vote in January 2024 approving the transaction, and Realty Income’s announcement on January 23, 2024 that it had closed the all-stock merger and that Spirit’s common and preferred stock would cease trading on the NYSE after January 22, 2024.
Earlier releases in the archive highlight Spirit’s financial and operating results, including quarterly earnings updates, occupancy metrics and portfolio statistics for its retail, industrial and other properties across 49 states. Together, these articles document how Spirit operated as a net-lease REIT prior to its combination with Realty Income. Investors and researchers can use this page to trace SRC’s historical developments, from portfolio performance and dividend decisions to the steps leading up to its integration into Realty Income.
Spirit Realty Capital, Inc. (NYSE: SRC) has declared a quarterly cash dividend of $0.625 per common share, reflecting an annualized rate of $2.50. Shareholders on record as of March 31, 2021 will receive the dividend on April 15, 2021. Additionally, a dividend of $0.3750 per share was declared for holders of the 6.00% Series A Cumulative Redeemable Preferred Stock, payable on March 31, 2021. As of December 31, 2020, SRC’s portfolio includes 1,860 properties across 48 states, covering 40.7 million square feet with 301 tenants.
Spirit Realty Capital announced a public offering of $450 million in 2.100% senior notes due 2028 and $350 million in 2.700% senior notes due 2032. The 2028 Notes priced at 99.364% and the 2032 Notes at 99.344% of their principal amounts. Proceeds will be used to repay existing debts, including 3.75% convertible notes due 2021 and certain CMBS loans, as well as for general corporate purposes. The offering is subject to customary closing conditions and will settle on March 3, 2021.
Spirit Realty Capital (NYSE: SRC) reported strong fourth quarter 2020 results with a net income of $0.24 per diluted share, compared to $0.02 in Q4 2019. The company invested $436.3 million, acquiring 99 properties at a weighted average cash yield of 6.70%. Occupancy stood at 99.6%, with lost rent at 3.4%. Spirit generated $310.9 million from issuing 8.9 million shares to settle forward contracts. The Board declared a quarterly dividend of $0.625 per common share. For 2021, the guidance projects AFFO of $3.00 to $3.10 per share and capital deployment of $700-$900 million.
Spirit Realty Capital (NYSE: SRC) has announced the tax status of its 2020 dividends for common and Series A Preferred Stock. For common stock, total dividends paid were $2.50 per share, with 71.93% classified as ordinary dividends and 28.07% as return of capital. For preferred stock, total dividends were $1.50 per share, classified entirely as ordinary dividends. Shareholders are advised to consult tax advisors for specific treatment related to these dividends. Further information is available on the Investor Relations section of Spirit's website.
Spirit Realty Capital, a net lease REIT (NYSE: SRC), will release its fourth quarter 2020 financial results on February 19, 2021, before market open. An earnings call will follow at 9:30 a.m. ET. As of September 30, 2020, Spirit owned 1,778 properties across 48 states, encompassing a leasable area of 37.2 million square feet, leased to 296 tenants in 28 industries. The company emphasizes that its future results are subject to risks, including market volatility and tenant performance.
Spirit Realty Capital (NYSE: SRC) reported a 93% collection rate for November base rent, rising to 98% when excluding movie theaters. The company completed $262 million in acquisitions this quarter and anticipates a total of $400 to $425 million for Q4. It executed forward contracts for 5,253,548 shares at an average price of $36.24, expecting $190.4 million in gross proceeds. Additionally, Spirit increased its capital deployment guidance for the year to $840 to $865 million, up from $700 to $750 million.
Spirit Realty Capital, Inc. (NYSE: SRC) announced a quarterly cash dividend of $0.625 per common share, effective January 15, 2021, for stockholders of record as of December 31, 2020, translating to an annualized rate of $2.50. Additionally, a dividend of $0.3750 per share will be paid to holders of the 6.00% Series A Cumulative Redeemable Preferred Stock on December 31, 2020, for preferred stockholders of record as of December 15, 2020. The announcement signifies the company's ongoing commitment to return value to shareholders.
Spirit Realty Capital (SRC) reported its third quarter 2020 financial results, highlighting a rent collection rate of 90% and 93.3% for October. The company invested $215.3 million in acquiring 18 properties, achieving a weighted average cash yield of 7.02%. However, net income decreased to $0.11 per diluted share from $0.87 a year earlier. Despite issuing $450 million in unsecured notes and maintaining $1.1 billion in liquidity, the funds from operations (FFO) fell to $0.59 from $1.06. The Board declared a quarterly cash dividend of $0.625 per share, and raised 2020 capital deployment guidance to between $700 million and $750 million.